<p>I got accepted to spring 2010 and my parents are in and out of my life and currently they are out. i have a good amount of financial aid probably about half. i have the independent status. for all 4 years i'd have to, worst case scenario, loan out around 100k if i live on campus with meal plan living expenses etc. Is it worth the money? I'm a comm major with an emphasis in the business aspects and plan on eventually getting an MBA. is it worth loaning out this heavy of a loan for an undergrad degree?</p>
<p>Hmm…I thought USC met full need. If you are an independent student…you must have had some EFC to need to borrow $25K per year. Do you have the ability to take out a loan in this amount?</p>
<p>according to my fin aid award amount it says i can only loan out a certain amount and the rest id have to loan out through a private lender…so apparently they dont meet the full need if i’m expected to find it on my own.
hopefully with my sudden change in circumstances i’d be given more i’ll see…time is running out though</p>
<p>I’m sorry, but what is your “sudden change in circumstances”?</p>
<p>Maybe USC doesn’t meet full need of int’ls?? Anyone know? </p>
<p>how much did it say that your supposed to pay?</p>
<p>Why do you have “independent status”? Are you over 24?</p>
<p>What is your “sudden change in status”?</p>
<p>Do you have a lender? </p>
<p>That’s a lot to borrow for undergrad. How much do you expect to be earning once you graduate?</p>
<p>Do we know that the OP is international?</p>
<p>Just my 2 cents here, Prince. I don’t think ANY school is worth coming out over $100K in debt. That’s just ridiculous, IMHO. I currently do some work with lawyers who have been working 12 - 15 years and many are STILL paying off school loans for both undergrad and graduate school. All of them continually say it’s not worth it and would rather be doing something else.</p>
<p>Just food for thought - just because you CAN get in, doesn’t mean to have to - not if you’re going to be buried in debt for the first half of your working career.</p>
<p>Good luck to you whatever you decide - it’s a life choice, I suppose. I dropped out of the rat race/keep up the “Jones” years ago and have been, personally, extremely happier and more content.</p>
<p>*Do we know that the OP is international? *</p>
<p>lol…I misread the OP’s first post. He may not be an int’l.</p>
<p>*I don’t think ANY school is worth coming out over $100K in debt. That’s just ridiculous, IMHO. I currently do some work with lawyers who have been working 12 - 15 years and many are STILL paying off school loans for both undergrad and graduate school. All of them continually say it’s not worth it and would rather be doing something else.
*</p>
<p>Yes! And who knows how much someone with a Communications degree will be earning for the first 5 -10 years after graduation. It’s hard to fully support yourself after graduating and also pay back big loans.</p>
<p>Also, you’ll need a co signer for loans that high.</p>
<p>I am sure the OP will pop back in to clarify, but in the meantime -</p>
<p>The OP posted this question over on the USC forum and I suggested he come over here to get some help from all of you experts. He is a Spring 2010 admit, and his financial aid package was based on his parent’s information. Recently his parents changed their minds about contributing, and he finds himself one week before classes begin without enough money. </p>
<p>Any suggestions for him?</p>
<p>P.S. He is not international.</p>
<p>He has few options if he is under 24 and his parents will not meet his EFC. College don’t care about their willingness to pay if it has been determined they can pay. Even if he wants to take big loans, he’d need his parents or someone else with assets and good credit to co sign. If he is independent, USC should have met his need with no parental contribution expected.</p>
<p>
He mentions in his post he has “the independent status,” but I am not sure he means for financial aid. I think he just means he is on his own.</p>
<p>No college is worth that kind of student debt, particularly for a Comm major. </p>
<p>btw: B-school can be math heavy, so you had better plan on beefing up your skills to compete with those kids who aced Calc in HS. Good luck.</p>
<p>yes it’s a very complicated situation.i appreciate all of your help. i came out of the closet a while ago but my parents are still having trouble dealing with it. i’ve lived in and out of the house since the age of 14 and during the time of acceptance to USC i was out of the house so that is how i originally got the independent status (request letter sent by my psych). i went back home… family started seeing a psychologist etc and my parents had agreed to contribute to my education up until this last week all the sudden made a 180 and screwed me over so that they’d watch me struggle pretty much. </p>
<p>that is my sudden change of circumstance.
i’m not an international btw im an 18 year old spring admit supposed to be starting spring 2010.
i’ve been living with my uncle the times i wasn’t home so if i was to loan out he would probably be the cosigner…but to my understanding the stafford loan doesnt requre a cosigner?
i am a comm major but plan to get an MBA to eventually earn a great salary. but i feel to get into a good grad school it would make sense to go to a good undergrad?
i calculated it and with everything including living expenses and all …i’d have to come up with around 15k a sem so i have already received alot of finan aid but there is still alot that im supposed to come up with for the remaining 7 semesters.</p>
<p>*i’ve been living with my uncle the times i wasn’t home so if i was to loan out he would probably be the cosigner…but to my understanding the stafford loan doesnt requre a cosigner?
*</p>
<p>Stafford loans for independants are $9500 (frosh/soph yrs), $10,500 (junior), $12,500 (senior). </p>
<p>So, you will need more money. You need to talk to your uncle. Co-signing loans is a big responsibility, and he may not be comfortable with co-signing.</p>
<p>*i am a comm major but plan to get an MBA to eventually earn a great salary. but i feel to get into a good grad school it would make sense to go to a good undergrad?
*</p>
<p>Don’t forget that you’ll have to borrow a LOT for business school…</p>